Fed Pledges Exceed $7.4 Trillion to Ease Frozen Company Credit

[Bindare_Dundat]

Fed Pledges Exceed $7.4 Trillion to Ease Frozen Company Credit

Nov. 24 (Bloomberg) -- The U.S. government is prepared to lend more than $7.4 trillion on behalf of American taxpayers, or half the value of everything produced in the nation last year, to rescue the financial system since the credit markets seized up 15 months ago.

http://www.bloomberg.com/apps/news?p...rhU&refer=home

http://www.tickerforum.org/cgi-ticke...www?post=72774


“Some have asked us to reveal the names of the banks that are borrowing, how much they are borrowing, what collateral they are posting,” Bernanke said Nov. 18 to the House Financial Services Committee. “We think that’s counterproductive.”     

[Bindare_Dundat]

"Most of the spending programs are run out of the New York Fed, whose president, Timothy Geithner, is said to be President- elect Barack Obama’s choice to be Treasury Secretary"

"The commitment of public money is appropriate to the peril, said Ethan Harris, co-head of U.S. economic research at Barclays Capital Inc. and a former economist at the New York Fed."



hahaha, Still think things are going to get better? hahahaha

[Bindare_Dundat]

 Geithner has been in the middle of efforts to mitigate the financial crisis since it began in August 2007, and he is likely to be welcomed in Capitol Hill confirmation hearings as warmly as he was on Wall Street today, where the Dow industrials rallied nearly 500 points on news of his nomination. He does carry the baggage, however, of the still unsuccessful Bush administration's attempts to halt the crisis.

Now, I see why the market rallied, makes perfect sense. 

[The Coach]

But hey, the middle class will get a tax cut

[Straw Man]

But hey, the middle class will get a tax cut

Joe, what's your problem with a middle class tax cut.

I thought you neoCON's loved any kind of tax cut

[240 is Back]

Joe, what's your problem with a middle class tax cut.

I thought you neoCON's loved any kind of tax cut

maybe joe's only cool with tax cuts when they effect him